As per the latest updates, petroleum product prices in Pakistan expected to undergo slight adjustments for the next 15 days starting from December 16, 2024. Petrol prices anticipated to rise by PKR 0.81 per liter, while high-speed diesel (HSD) prices projected to decrease by PKR 3.94 per liter.
Petrol and Diesel Price Adjustments
- Petrol Price: Expected increase of PKR 0.81 per liter.
- Diesel Price: Likely decrease of PKR 3.94 per liter.
These changes attributed to global oil market fluctuations influenced by the ongoing political instability in Syria, which has led to uncertain price trends in the international market.
Global Oil Market Trends
Recent developments in the international oil market have also played a significant role in these price adjustments:
- US Crude Oil: Witnessed a rise of 63 cents over the past 10 days, currently trading at USD 68.05 per barrel.
- British Brent Crude Oil: Increased by 73 cents, now trading at USD 71.85 per barrel.
Potential for Further Reductions
Experts suggest that if the political situation in Syria stabilizes, there may be further reductions in petroleum prices in the coming weeks.
Impact of Price Adjustments
These changes will likely have varying impacts on consumers and businesses, with a slight increase in petrol costs potentially affecting transportation and a decrease in diesel prices benefiting industries relying on heavy vehicles.
Stay updated on the latest developments in petroleum prices for timely insights into their economic implications.
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